3.
The marketing research department for the company that manufactures and sells “notebook” computers established the following price – demand function:
p(x)
...
ters established the following price – demand function:
p(x) = 10 – 0,001x, where p(x) is the wholesale price in dollars at which x thousand computers can be sold.
Total cost (in dollars) of producing x items is given by C(x) = 7000 + 2x.
A) Find the revenue function and state its domain.
B) Find the marginal revenue function. Find R´(4000) and R´(6000). Interpret the results.
C) Evaluate the approximate revenue and exact revenue of producing 101-th notebook.
D) Find the profit function
E) Find the marginal profit function.
F) Evaluate the approximate profit and exact profit of producing 101-th notebook.
G) Find P´(5000) and P´(7000). Interpret the results.
View More
4.The cost of gym membership, C, in Australian dollars (AUD), in Paolo’s Gym can
be modelled by the function
C = 65t
...
function
C = 65t + 30
where t is the time in months.
(a) Calculate the gym membership cost over a six month period.
(b) Sketch the graph of the function C = 65t + 30 for t ≥ 0.
(c) Calculate the time, t, in months, when the total cost reaches 290 AUD.
In the neighbouring Nicolo’s Gym, the initial payment is 75 AUD higher than in
Paolo’s Gym, however the monthly fee is lower at 30 AUD per month.
(d) Determine the number of months it takes for the total cost to be less by
attending Nicolo’s Gym in comparison to Paolo’s Gym.
View More
6.I have a query, can you solve?
1. Sunshine Desserts sell 3 different flavours of exotic Ice-cream (Lychee surprise, Kumquat ripple and
...
(Lychee surprise, Kumquat ripple and Avocado 99). Three salespersons Joan, David and Tony each sold the following units, in 100 litre tubs, as shown below
Lychee surprise Kumquat Ripple Avocado 99
Joan 12 10 20
David 16 12 8
Tony 20 16 10
The total sales of each salesperson were £9,800, £8000, and £10,300 respectively. Calculate the cost of each type of ice-cream.
View More
9.1. The marginal cost of making x^th chai tea lattes is given by M(x)=20/x^2. Find the total cost accrued when
...
rued when you go from making 1 chai tea latte a day to 40 chai tea lattes a day. (Hint: relationship between marginal cost and total cost)
2. Suppose that C(x) = -0.01x + 5 represents the daily cost of heating the doughnut shop, in dollars per day, where x is time in days and x = 0 corresponds to January 1, 2020. Find the total cost of heating the shop for the first two weeks of January, and find the average cost to heat the shop each day for the first two weeks of January.
View More
17.Spending on health care now constitutes a significant fraction of total expenditure. Understanding the efficacy of this spending is therefore
...
he efficacy of this spending is therefore relatively important. When it comes to contagious diseases, there are generally two strategies that can be adopted. The first involves prevention, which includes vaccinations to lower or eliminate the risk of contracting a disease. The second involves treatment of those unfortunate enough to get sick, treatment typically requires some form of a drug. Since pharmaceutical companies can produce both vaccines and drugs, we would like to understand the incentives they have to develop each type of medicine. To explore this question, consider a population of 100 consumers, 90 of whom have a low disease risk, say 10%. The remaining ten have a high risk – to make things simple, assume they are certain to contract the disease. In addition, suppose the disease generates personal harm equal to the loss of $100 for each individual when they are infected. Suppose also that pharmaceuticals of either form (vaccines or drugs) are costless to produce (once R & D has occurred) and are perfectly effective
Question 2. What price would a profit maximising monopolist charge for a vaccine? What are the monopoly profits on the vaccine? What is the efficient outcome (i.e. SMB = SMC)? What is the welfare under the monopoly and at the efficient allocation?
Question 3.Now consider the demand for the drug (assume that the vaccine is not available). Construct the demand function for the drug and plot it on a diagram. What price would a profit maximising monopolist charge for the drug? What are the monopoly profits from the drug? What is the efficient outcome? What is the welfare under the monopoly and at the efficient allocation?
Question 4. If the R&D costs of the vaccine and drug are the same, what will the pharmaceutical company do? Explain your answer in terms of the variation in the willingness to pay and the size of the R& D costs. What would a social planner do?
Question 5. What are the R&D cost for the vaccine and the R&D cost for the vaccine drug that would make a pharmaceutical company indifferent between developing the vaccine and the drug? Is the social planner indifferent in this case? Explain any difference.
View More
18.your boss at the bank finally gives you its current rough estimate of the bank’s average costs for each type
...
each type of classification error.
[Note that all bank models here include only profits and losses within three years of when a card is issued, so the impact of out-years (years beyond 3) can be ignored.]
Cost Per False Negative: $5000
Cost Per False Positive: $2500
For the 600 individuals that were automatically given cards without being classified, the total cost of the experiment turned out to be 25%*($5000)*600 or $750,000. This is $1,250 per event.
Only models with lower cost per event than $1,250 should have any value.
Question: What is the threshold score on the Training Set data for your model that minimizes Cost per Event? You will need this number to answer later questions.
Hint: Using theAUC Calculator Spreadsheet, identify which Column displays the same cost-per-event (row 17) as the overall minimum cost-per-event shown in Cell J2. The threshold is shown in row 10 of that Column. What the threshold means is that at and above this number everything is classified as a "default."
View More
19.your boss at the bank finally gives you its current rough estimate of the bank’s average costs for each type
...
each type of classification error.
[Note that all bank models here include only profits and losses within three years of when a card is issued, so the impact of out-years (years beyond 3) can be ignored.]
Cost Per False Negative: $5000
Cost Per False Positive: $2500
For the 600 individuals that were automatically given cards without being classified, the total cost of the experiment turned out to be 25%*($5000)*600 or $750,000. This is $1,250 per event.
Only models with lower cost per event than $1,250 should have any value.
Question: What is the threshold score on the Training Set data for your model that minimizes Cost per Event? You will need this number to answer later questions.
View More
21.
Value: 1
equation image indicator
a. (x - 2)2(x - 3)2
b. (x2+ 4)(x2+ 9)
c. (x - 2)(x +
...
2)(x - 3)(x + 3)
d. (x2 - 4)(x2+ 9)
Value: 1
The table below shows the cost of purchasing a standard stapler at five office supply stores, A through E. If the median cost of purchasing a standard stapler for these stores was $17.99, which of the following could NOT have been the cost of the stapler for Store A?
staplergraph.jpg
a. $19.95
b. $18.95
c. $16.95
d. $19.25
Value: 1
If equation image indicator then x =
a. 7
b. 1/5
c. 5
d. 1/7
Value: 1
A six−sided die, with sides numbered 1,2, 3,4,5, and 6, is tossed. What is the probability of tossing a number less than three?
a. 1/3
b. 0
c. 1/2
d. 1/4
Value: 1
If 6m + 4 = 8m, then 4m =
a. 6
b. 2
c. 8
d. 4
Value: 1
In the xy-plane, what is the y-intercept of the graph of the equation equation image indicator?
a. 2
b. 4
c. 16
d. There is no y-intercept.
Value: 1
Which of the following equations has both 2 and −4 as solutions?
a. x2 + 6x + 8 = 0
b. x2 - 2x - 8 = 0
c. x2 + 2x - 8 = 0
d. x2 - 2x + 8 = 0
Value: 1
The perimeter of a square is 20 ft. If you increase the length of the square by 2 feet and decrease the width by 1 foot, what is the area, in square feet, of the new figure?
a. 22
b. 28
c. 35
d. 40
Value: 1
(3x-2y4)-3 =
a. equation image indicator
b. equation image indicator
c. equation image indicator
d. equation image indicator
Value: 1
A softball is tossed into the air upward from a first floor balcony. The distance of the ball above the ground at any time is given by the function, distance function.png, where h(t) is the height of the softball above the ground (in feet) and t is the time (in seconds). What was the maximum height, in feet, of the softball above the ground after it was thrown?
a. 28
b. 30
c. 32
d. 34
Value: 1
A group of 100 people, some students and some faculty, attended a museum opening. Each student paid $10 per person for entrance to the museum and each of the faculty paid $25 per person for entrance. If the total paid, for all 100 people, was $1300, how many students attended the museum opening?
a. 20
b. 50
c. 70
d. 80
Value: 1
The ratio of Sam's age to Hank's age is 5 to 3. If the sum of their ages is 24, how old is Hank?
a. 21
b. 15
c. 19
d. 9
Value: 1
In the xy−coordinate plane shown below, point P has coordinates (8, −6). Which of the following is an equation of the line that contains points O and P?
O and P graph.jpg
a. equation image indicator
b. equation image indicator
c. equation image indicator
d. equation image indicator
Value: 1
The variables x and y are inversely proportional, and y = 2 when x = 3. What is the value of y when x = 9?
a. 54
b. 6
c. 2/3
d. 3/2
Value: 1
A farmer has 1235 trees to be planted on a rectangular parcel of land. If there are 24 trees planted in each row and each row must be complete before it is planted, how many trees will be left over after planting?
a. 21
b. 11
c. 0
d. 55
View More